https://www.taxtmi.com/caselaws?id=262403 The Tribunal upheld the CIT(A)'s decision to delete the addition of unexplained cash deposits of Rs. 21,52,800/- made by the AO under section 68 of the Income Tax Act for the assessment year 2009-10. The Tribunal found the assessee's explanation and evidence regarding the cash deposits credible, considering the nature of the road transport business and the supporting documents provided. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition based on the lack of legal justification for invoking section 68 in this case. en-us Fri, 31 Jul 2015 00:00:00 +0530 Sat, 26 Sep 2015 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262403 The Tribunal upheld the CIT(A)'s decision to delete the addition of unexplained cash deposits of Rs. 21,52,800/- made by the AO under section 68 of the Income Tax Act for the assessment year 2009-10. The Tribunal found the assessee's explanation and evidence regarding the cash deposits credible, considering the nature of the road transport business and the supporting documents provided. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition based on the lack of legal justification for invoking section 68 in this case. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262403